Interested in building a payments and finance function from scratch?
Advisable.com, a $3.5m VC-backed freelancer marketplace, is looking for an interim-CFO to build and own their payments and finance function.
Advisable connects companies to the world’s top marketing freelancers. We have grown revenue at 20% MoM since launch two years ago and closed a $2.5m Seed Round in May 2020 (Frontline Ventures, FJ Labs).
What we need help with:
Having recently closed a funding round, a top priority is to build a more professional finance and payments function. Currently, we are processing hundreds of thousands in payments per month. We believe there is potential to grow these amounts >10x within the next 18 months, and are investing in our payments and finance capabilities to help us do so.
Who we’re looking for:
We’re looking for an interim CFO with experience managing the finance and payments functions of a venture-backed startup (or similar) who can independently manage (structure and lead; identify and hire external freelancers/providers; work with internal team) the below workstreams
The successful candidate will be able to demonstrate that they have the ability to independently define and execute strategy across both workstreams
We’re happy to work remotely, on a flexible basis (can be an interim position/project; can become an ongoing part/full-time role depending on evolution/desire)
Experience with Stripe / Stripe Connect would be ideal, but not required
1. Payments: manage the process of automating client and freelancer payments
Today – streamlined but manual: freelancer rates and number of hours worked are captured in the front end; invoices are created manually in the back end; Stripe payments are then charged or invoices sent requesting bank transfer; payments are manually made to freelancers via Transferwise upon client approval of work
Future – automated: freelancer rates and hours worked are captured in the front end; invoices are automatically created and payment charged (via Stripe or ACH) in the back end; payments are automatically made to freelancers upon successful completion of the work (possibly via Stripe Connect; TransferWise or another provider of your choice)
Potential interim state where manual work is standardized and completed by an intern/outsourced
Goal is that our system is so streamlined that we can profitably manage freelancers’ off-platform projects
Work with: founders; development team; ~external payments expert/provider; ~intern/outsourced payments support
2. Accounting: build and manage a reliable accounting and reporting process
Today: the payments information (client payment in, less freelancer payment out = revenue) captured in the back end is transferred manually into a Google Sheet which forms the master record of revenue. Stripe payments and bank transfers in/out are also loosely captured in Xero, but this is not reliable. The information in the back end is similarly unreliable (often containing false duplicates or incorrect information)
Future: the information in the back end is 100% accurate (client amount charged and paid; freelancer amount due and paid) and is automatically captured in reporting